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Mercer holds on to £20bn Universities fund

One of the UK's largest pension funds, the £20bn (€32bn) Universities Superannuation Scheme (USS) has reappointed William M Mercer as its actuary and investment consultant.

Mercer beat Watson Wyatt and Hymans Robertson to win the mandate. It has been the scheme's actuary and consultant since the latter was started, in 1975, and the last time its appointment was reviewed was in 1994.

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